Civic Intelligence

Dubai Harvard Foundation For

EIN 52-2446955 • 501(c)3 • Boston, MA

4 Blackfan CircleBoston, MA 02115

www.dhfmr.hms.harvard.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

6th percentile

0.00x

Higher debt load relative to assets than 6% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

8th percentile

0.00x

Higher debt load relative to revenue than 8% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

28th percentile

-2.6%

Higher net margin than 28% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

96th percentile

$1,013,063

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 199.4% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

45th percentile

3.0%

Faster asset growth than 45% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

62nd percentile

13%

Faster revenue growth than 62% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$13,588,832

Up $394,922 (+3.0%) from 2023

Liabilities

Down

$527

Down $12,945 (-96%) from 2023

Net Assets

Up

$13,588,305

Up $407,867 (+3.1%) from 2023

Revenue

Up

$508,174

Up $60,233 (+13%) from 2023

Expenses

Down

$521,369

Down $191,046 (-27%) from 2023

Net Income

Up

-$13,195

Up $251,279 (+95%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0Assets 2011: $44,809,537Liabilities 2011: $233,470Net Assets 2011: $44,576,0672011Assets 2012: $43,032,123Liabilities 2012: $190,421Net Assets 2012: $42,841,7022012Assets 2013: $37,331,569Liabilities 2013: $317,843Net Assets 2013: $37,013,7262013Assets 2014: $40,379,542Liabilities 2014: $129,789Net Assets 2014: $40,249,7532014Assets 2015: $38,166,806Liabilities 2015: $196,250Net Assets 2015: $37,970,5562015Assets 2016: $34,620,177Liabilities 2016: $3,966Net Assets 2016: $34,616,2112016Assets 2017: $30,939,938Liabilities 2017: $172,540Net Assets 2017: $30,767,3972017Assets 2018: $25,926,384Liabilities 2018: $0Net Assets 2018: $25,926,3842018Assets 2019: $20,517,691Liabilities 2019: $0Net Assets 2019: $20,517,6912019Assets 2020: $14,659,157Liabilities 2020: $656Net Assets 2020: $14,658,5012020Assets 2021: $15,096,309Liabilities 2021: $6,032Net Assets 2021: $15,090,2772021Assets 2022: $13,672,505Liabilities 2022: $721Net Assets 2022: $13,671,7842022Assets 2023: $13,193,910Liabilities 2023: $13,472Net Assets 2023: $13,180,4382023Assets 2024: $13,588,832Liabilities 2024: $527Net Assets 2024: $13,588,3052024

Highlighted filing

2024

Assets$13,588,832
Liabilities$527
Net Assets$13,588,305

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0M-$10MRevenue 2011: $1,911,243Expenses 2011: $6,426,403Net Income 2011: -$4,515,1602011Revenue 2012: $1,608,559Expenses 2012: $1,718,020Net Income 2012: -$109,4612012Revenue 2013: $1,842,991Expenses 2013: $1,864,714Net Income 2013: -$21,7232013Revenue 2014: $1,807,878Expenses 2014: $1,914,469Net Income 2014: -$106,5912014Revenue 2015: $1,461,398Expenses 2015: $2,582,051Net Income 2015: -$1,120,6532015Revenue 2016: $377,671Expenses 2016: $3,146,079Net Income 2016: -$2,768,4082016Revenue 2017: $379,926Expenses 2017: $4,413,656Net Income 2017: -$4,033,7302017Revenue 2018: $396,870Expenses 2018: $5,577,300Net Income 2018: -$5,180,4302018Revenue 2019: $458,995Expenses 2019: $5,936,326Net Income 2019: -$5,477,3312019Revenue 2020: $469,458Expenses 2020: $6,446,521Net Income 2020: -$5,977,0632020Revenue 2021: $431,547Expenses 2021: $2,297,736Net Income 2021: -$1,866,1892021Revenue 2022: $444,380Expenses 2022: $1,173,782Net Income 2022: -$729,4022022Revenue 2023: $447,941Expenses 2023: $712,415Net Income 2023: -$264,4742023Revenue 2024: $508,174Expenses 2024: $521,369Net Income 2024: -$13,1952024

Highlighted filing

2024

Revenue$508,174
Expenses$521,369
Net Income-$13,195

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.6$0.00$13.6$0.51$0.52$0.01
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.2$0.01$13.2$0.45$0.71$0.26
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.7$0.00$13.7$0.44$1.17$0.73
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.1$0.01$15.1$0.43$2.30$1.87
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.7$0.00$14.7$0.47$6.45$5.98
2019Detailed filing. Detailed filing data is available for this year.$20.5$0.00$20.5$0.46$5.94$5.48
2018Detailed filing. Detailed filing data is available for this year.$25.9$0.00$25.9$0.40$5.58$5.18
2017Summary only. Only limited summary data is available for this year.$30.9$0.17$30.8$0.38$4.41$4.03
2016Summary only. Only limited summary data is available for this year.$34.6$0.00$34.6$0.38$3.15$2.77
2015Summary only. Only limited summary data is available for this year.$38.2$0.20$38.0$1.46$2.58$1.12
2014Summary only. Only limited summary data is available for this year.$40.4$0.13$40.2$1.81$1.91$0.11
2013Summary only. Only limited summary data is available for this year.$37.3$0.32$37.0$1.84$1.86$0.02
2012Summary only. Only limited summary data is available for this year.$43.0$0.19$42.8$1.61$1.72$0.11
2011Summary only. Only limited summary data is available for this year.$44.8$0.23$44.6$1.91$6.43$4.52
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2019 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jul 14, 2020
Return Version
2018v3.3
Gross Receipts
$458,995
Mission and Program Overview

Mission

SEE SCHEDULE O.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$8,427,248$8,495,885▲ $68,637
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$25,926,384$20,517,691▼ $5,408,693
Other Assets Total$17,499,136$12,021,806▼ $5,477,330
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$17,914,436$12,148,998▼ $5,765,438
Permanently Rstr Net Assets$4,518,641$4,518,641→ $0
Temporarily Rstr Net Assets$3,493,307$3,850,052▲ $356,745
Total Net Assets Fund Balance$25,926,384$20,517,691▼ $5,408,693
Total Liabilities and Net Assets / Fund Balance$25,926,384$20,517,691▼ $5,408,693

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$12,021,806--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$9,679,242-▲ $522,587-$10,049,210
2017$9,063,982-▲ $764,160-$9,679,242
2016$8,669,633-▲ $605,833-$9,063,982
2015$9,077,851-▼ $164,953-$8,669,633
2014$39,974,914-▼ $29,075,730$93,876$9,077,851
Compensation and Service Providers

Employees

NameTitleOtherTotal
William StraughnClerk (AS OF 2/22/19)$77,507$77,507

Board Members and Trustees

NameTitle
Barbara McNeil MDFormer President
Jeffrey S Flier MDFormer President
Ajay SinghExecutive Director
George Q DaleyPres/chrmn of Board
Michael WhiteTreasurer/Trustee
David E Golan MD PhDTrustee
David H RobertsTrustee
Sehamuddin GaladariTrustee
Sultan T Al-Sedairy PhDTrustee
Robin J WheatleyClerk (until 2/16/19)
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$37,000
Investment Income
$421,995
Other Revenue
$0
Change in Net Assets
$-5,477,331
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$5,529,722
Other Expenses$406,604
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$5,529,722--$5,529,722
Travel$51,603$2,773-$54,376
Office Expenses$24,406$25,451-$49,857
Conferences and Meetings$17,758--$17,758
Fees for Services Accounting-$12,284-$12,284
Fees for Services Other-$1,350-$1,350
Other Expenses$203,140$125$0$125
Total Functional Expenses$5,826,629$109,697$0$5,936,326
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
President & Fellows of Harvard CollegeCambridge, MA501(c)(3)Medical Research$5,529,722
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, LINE 11B:

The organization's tax return is prepared by external tax preparers and was reviewed by management. A final copy of form 990 was provided to each voting member of the board prior to filing with the irs.

FORM 990, PART VI, LINES 12, 13, & 14:

Dubai harvard foundation for medical research, inc. ("dhfmr") has no separate written conflict of interest, document retention, and whistleblower policies. As an affiliated entity of the president & fellows of harvard college ("college"), dhfmr adheres to the college's central policies on document retention and whistleblowers. In addition, dhfmr adheres to harvard medical school's ("hms") conflict of interest policy. Officers and trustees are required to disclose interests that could give rise to conflicts. Monitoring takes place within the framework of hms.

FORM 990, PART VI, LINE 15:

Officers and directors/trustees are not compensated in their capacity as officers and directors/trustees of dubai harvard foundation for medical research, inc. ("dhfmr"). However, the individuals listed were also employees of the president & fellows of harvard college ("college"), positions for which they received compensation. Therefore, their compensation and benefits are determined by the college.

FORM 990, PART VI, LINE 18:

The organization's form 990 is also available through www.guidestar.org.

FORM 990, PART VI, LINE 19:

The organization makes its governing documents, conflict of interest policy, and financial statements available upon request.

Filing and Contact Details

Filer

Filer Name
Dubai Harvard Foundation for
EIN
52-2446955
In Care Of
% CHERYL O'TOOLE
Phone
6173781201
Address
4 Blackfan Circle, BOSTON, MA 02115

Signing Officer

Name
Ajay Singh
Title
Executive Director
Signed
2020-07-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ajay Singh
Formed
2004
Legal Domicile
Ma
Voting Board Members
8
Independent Board Members
2
Employees
0
Volunteers
3

Preparer

Firm
PricewaterhouseCoopers LLP
Address
101 SEAPORT BLVD SUITE 500, BOSTON, MA 02210
Preparer
Gwen Spencer
Phone
6175305000
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1 & PART III, LINES 1 & 4:

Dubai harvard foundation for medical research, inc. (the "foundation") is a nonprofit corporation, established as a subsidiary of harvard university. The foundation was formed under massachusetts law and is intended to be exempt from united states income tax under section 501(c)(3) of the united states internal revenue code. The foundation is to be operated exclusively for charitable purposes within the meaning of section 501(c)(3) of the internal revenue code. The foundation was formed by the president & fellows of harvard college in december 2004 to promote and enhance the quality of health care through research and education activities related to health care, life-sciences and medicine, with a particular focus on programs of harvard medical school that address the improvement of health care delivered to people within the emirate of dubai, the united arab emirates and countries in the surrounding region.

FORM 990, PART V, LINE 2A:

Dubai harvard foundation for medical research, inc. ("dhfmr") has no employees. Dhfmr reimburses president and fellows of harvard college for personnel expenses related to services performed on behalf of dhfmr.

Financial Statement Notes

SCHEDULE D, PART V:

The dubai harvard foundation for medical research's fy 2015 endowment fund accounting was restated to more accurately reflect the amount of appreciation recorded on the endowment funds, funds used for scholarships and administrative expenses. Schedule d, part v, line 4: the dubai harvard foundation for medical research supports collaborative initiatives between harvard medical school research laboratories and their counterparts in the middle east, and post-doctoral research fellowships for young investigators from the middle east.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE DUBAI HARVARD FOUNDATION FOR MEDICAL RESEARCH, TO ADVANCE ITS MISSION, SUPPORTS COLLABORATIVE INITIATIVES BETWEEN HARVARD MEDICAL SCHOOL (SUPPORTED ORGANIZATION) RESEARCH LABORATORIES AND THEIR COUNTERPARTS IN THE MIDDLE EAST, AND POST-DOCTORAL RESEARCH FELLOWSHIPS FOR YOUNG INVESTIGATORS FROM THE MIDDLE EAST.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART IV, SECTION A, LINE 6:
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0PRESIDENT AND FELLOWS OF HARVARD COLLEGE
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE DUBAI HARVARD FOUNDATION FOR MEDICAL RESEARCH'S FY 2015 ENDOWMENT FUND ACCOUNTING WAS RESTATED TO MORE ACCURATELY REFLECT THE AMOUNT OF APPRECIATION RECORDED ON THE ENDOWMENT FUNDS, FUNDS USED FOR SCHOLARSHIPS AND ADMINISTRATIVE EXPENSES. SCHEDULE D, PART V, LINE 4: THE DUBAI HARVARD FOUNDATION FOR MEDICAL RESEARCH SUPPORTS COLLABORATIVE INITIATIVES BETWEEN HARVARD MEDICAL SCHOOL RESEARCH LABORATORIES AND THEIR COUNTERPARTS IN THE MIDDLE EAST, AND POST-DOCTORAL RESEARCH FELLOWSHIPS FOR YOUNG INVESTIGATORS FROM THE MIDDLE EAST.

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